re: placement raises $6m dub - amb huge boost of confidence for the project with recent placement. MMN has been starved of capital to conduct aggresive drilling. Now we shall see what really lies in the ground at Mt Gunyan and other prospects.
I've done some switching from shares to oppies. As I believe silver will be north of US$20 per ounce within a year , then my personal target for MMN is over $2. This is based on a conservative indicated resource of around 30 million ounces been valued at $500 million in profit before discounting ( using a profit margin of AUS$16 per ounce. Because I believe MMN will trade at a steep premium to equivalent type gold shares due to lack of investor options for silver then a market cap of $1billion is not out of the question. These type of shares will often trade at wild premiums to their value based on DCF.
I think we will all be suprised with the strength of this precious metal bull. Ron Rosen in a recent newsletter said that a "thirty bagger" would be an average return on gold/silver stocks. No doubt he is looking at gold over US$1500
I have been trading MMN since 2000 and have no capital at risk so new MMN punters exposed to potential capital loss should only buy MMN with a view to aggresive profit taking. Nothing is for sure in the market.
To the winers who bag MMN my sympathies that you missed the boat, but try to be happy when you think how much your fellow punters have made on MMN recently
MMN
macmin silver ltd
